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VANCOUVER, Sept. 28, 2017 /CNW/ – Pure Multi-Family REIT LP (“Pure Multi-Family”) (TSXV: RUF.U, RUF.UN, RUF.DB.U; OTCQX: PMULF) announced today that the TSX Venture Exchange (the “TSX-V”) has accepted its notice of intention to make a normal course issuer bid (the “Bid”).
The notice provides that Pure Multi-Family may, during the twelve-month period commencing October 3, 2017 and ending October 2, 2018, purchase for cancellation on the TSX-V up to 1,000,000 class A units (each, a “Unit”) in total, being approximately 1.3% of the outstanding Units as of the date hereof.
Pure Multi-Family believes that its Units are currently trading, or due to market volatility, may trade, in a price range that does not adequately reflect their underlying value based on Pure Multi-Family’s business prospects and strong financial position. Accordingly, depending upon future price movements and other factors, Pure Multi-Family may purchase outstanding Units from time to time, provided that the repurchase of Units at such market prices continue to be an appropriate use of Pure Multi-Family’s resources and benefit remaining unitholders by increasing their proportionate equity interest in Pure Multi-Family.
Purchases subject to this normal course issuer bid will be carried out pursuant to open market transactions through the facilities of the TSX-V by CIBC on behalf of Pure Multi-Family in accordance with applicable regulatory requirements. All Units purchased by Pure Multi-Family under the normal course issuer bid will be returned to treasury and cancelled.
About Pure Multi-Family REIT LP
Pure Multi-Family is a Canadian based, publically traded vehicle which offers investors exclusive exposure to attractive, institutional quality U.S. multi-family real estate assets.
NEITHER TSX-V NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
SOURCE Pure Multi-Family REIT LP
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